[ET Net News Agency, 10 September 2019] AK Medical Holdings Limited (01789) said its
controlling shareholder Ximalaya Limited has agreed to place 50 million existing shares in
the company (representing 4.79% of the issued share capital of the company) to a large and
high-quality Asia-based investment management firm at a price of HK$7.01 apiece, which
represent a 7.03% discount to the closing price of HK$7.54 on 9 September.
The total consideration will be HK$350.5 million.
Immediately after completion of the placing, which is expected to take place on 12
September, Ximalaya's shareholding in the company will reduce to 51.27% from 56.06%
previously. It will continue to be a "controlling shareholder" of AK Medical after the
placing. (KL)